TORONTO (Reuters) — The Toronto Stock Exchange's main index recovered about a quarter of the previous day's big losses yesterday, lifted by strength in telecoms and technology issues.The S&P/TSX composite index closed up 43.76 points, or 0.3 percent, at 14,382.01. It lost 158 points on Monday.

"The party's still on to some degree," said Adrian Mastracci, portfolio manager and president at KCM Wealth Management Inc. in Vancouver.

"There may be some denial out there because it's harder to find some values, but it's easier to chase momentum and that's probably what they were doing today."

The telecom sector jumped 1.6 percent as all five listed firms in the group gained, pushing the sector to a record high.

Rogers Communications led the TSX upside, adding C$1.59, or 3.2 percent, to C$50.99 as ratings agency BMO raised its share-price target for the "outperforming" company.

BCE Inc. advanced 37 Canadian cents, or 0.9 percent, to C$41.07 after news that Toronto-Dominion Bank will put up C$3.8 billion ($3.7 billion) to help finance the blockbuster acquisition of Canada's biggest telecoms company.

TD was up 28 Canadian cents, or 0.4 percent, at C$72.95, while the heavyweight financial sector gained 0.4 percent.

BlackBerry maker Research In Motion Ltd. was the other big lift for the overall index, rising C$4.19, or 1.8 percent, to C$240.29. RIM's annual meeting was scheduled for later yesterday.

The TSX information technology group also hit a record high, up 1.6 percent.

"The tech stocks have been in the doldrums ... with a lot of them still way down from their highs, so it may be a place where some value is starting to crop up," said John Kinsey, portfolio manager at Caldwell Securities Ltd.

Easing commodity prices muted gains in the energy and materials sectors, which ended only slightly higher.